payment date

Payment date

Payment Date

The dates on which stockholders are sent dividend payments. That is, the payment dates are the dates where stockholders receive dividends that they are either guaranteed (for preferred stock) or that was previously declared by the company (for common stock). Payment dates are fixed for preferred stock because the dividends are contractually guaranteed; however, they may change for common stock, particularly when the company changes its plowback rate. See also: Interest Dates.

payment date

The date on which a dividend will be paid to stockholders or on which interest will be paid to bondholders by the issuers' paying agents. In some cases, the issuers will have the payments made a day early so that the security holders will receive payment on the payment date.

The ratings of the Class I and Class II Notes address the likelihood that investors will receive full and timely payments of interest on scheduled interest payment dates, as well as the stated balance of principal on the final payment date.

The rating of the class A note addresses the likelihood that investors will receive full and timely payments of interest on scheduled interest payment dates, as well as the stated balance of original principal by the final payment date.

The ratings of the class A-1a and A-1b notes address the likelihood that investors will receive full and timely payments of interest on scheduled interest payment dates, as well as the stated balance of principal on the final payment date.

The rating of the class C notes addresses the likelihood that investors will receive full and timely payments of interest on scheduled interest payment dates, as well as the stated balance of original principal by the final payment date.

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